Entrepreneurs, small business grow economy

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Entrepreneurs drove the U.S. economy during 2006, federal reports show.

The U.S. Small Business Administration released its comprehensive report about small business’ contributions to the national economy during 2006, and small businesses lead economic growth during the year, the report says.

The report reviews the economic environment for small businesses in 2006, including the financial and federal procurement marketplaces. New research focuses on minority- and veteran-owned businesses, social entrepreneurship, and pre-venture planning. Other chapters and appendices provide data on small business.

At the end of each year, the SBA releases the analysis about the previous year.

“Today’s report shows that overall, small firms continue to drive a resilient U.S. economy,” said SBA Chief Economist Chad Moutray. “In releasing this annual small business research report, we are pleased also to showcase new research by economists in the field of small business and entrepreneurship.”